Portland, OR, Sept. 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global virtual assistance in healthcare market garnered $495.4 million in 2021, and is estimated to generate $2.1 billion by 2031, manifesting a CAGR of 15.6% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $495.4 million |
| Market Size in 2031 | $2.1 billion |
| CAGR | 15.6% |
| No. of Pages in Report | 310 |
| Segments covered | Product, User Interface, End User, and Region. |
| Drivers | Surge in consumer preference for technologically advanced products |
| Increase in geriatric population | |
| Rise in number of digital device users | |
| Technological innovations in artificial intelligence | |
| Opportunities | Increase in adoption of different strategies such as product launch, collaboration, and partnership among the key players in the field of virtual assistant solutions |
| Restraints | Patient’s personal data breach |
Impact of Covid-19 on Virtual Assistance in Healthcare Market-
- The outbreak of the COVID-19 pandemic led to the imposition of social distancing rules, which resulted in a significant demand for the virtual assistance in healthcare across several sectors, especially in the healthcare and medical sector.
- The main cause of the accelerated market growth is virtual treatment offered by doctors through video conferencing, various mobile based chatbots launched in 2020 to provide disease related information, and vaccine dose scheduling through COWIN app in India.
- As a result, the COVID-19 outbreak is expected to propel the global market growth of virtual assistance in healthcare, which will have a positive effect on the market's value in 2022 and beyond.
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The research provides detailed segmentation of the global virtual assistance in healthcare market based on product, user interface, end user, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on product, the smart speakers segment held the highest share in 2021, accounting for around two-thirds of the global virtual assistance in healthcare market, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is expected to register the highest CAGR of 16.2% from 2022 to 2031.
Based on user interface, the Automatic Speech Recognition segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global virtual assistance in healthcare market, and is expected to maintain its lead in terms of revenue during the forecast period. Moreover, the same segment is expected to manifest the highest CAGR of 16.3% from 2022 to 2031.
Based on end user, the healthcare providers segment accounted for the highest share in 2021, holding more than half of the global virtual assistance in healthcare market, and is expected to continue its leadership status during the forecast period. However, the patients segment is estimated to grow at the highest CAGR of 17.0% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly half of the total virtual assistance in healthcare market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 18.2% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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Leading market players of the global virtual assistance in healthcare market analyzed in the research include ADA Digital Health, Amazon, Babylon Holdings, CSS Corporation, Egain Corporation, Healthtap, Intelligent Digital Avatars, Inc., Infermedica, Kognito Solutions, LLC, MedRespond LLC, Microsoft Corporation, Neolytics LLC, Nuance Communications, Inc., Orbita, Sensely, Verint Systems, Inc., and Virgin Plus.
The report provides a detailed analysis of these key players of the global virtual assistance in healthcare market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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